International Finance Corporation

International Finance Corporation (IFC), established in 1956 and headquartered in Washington, District of Columbia, is the private equity and venture capital arm of The World Bank Group. It focuses on fostering sustainable economic growth in developing countries by financing private sector investments and mobilizing capital in international financial markets. IFC provides a wide range of financial products, including loans, equity, quasi-equity, and advisory services, targeting sectors such as agriculture, forestry, financial services, education, healthcare, infrastructure, manufacturing, retail, tourism, and technology. The organization aims to support businesses and financial institutions in emerging markets to create jobs, improve corporate governance, and enhance environmental performance. IFC typically invests between $1 million and $100 million, often taking minority stakes but preferring majority ownership in its portfolio companies. It does not engage directly in the management of its investments and usually exits through domestic stock markets or other arrangements after several years. By focusing on initiatives that benefit underserved communities, IFC contributes to local economic development and improves the quality of life for people in developing regions.

Wale Ayeni

Acting Global Head, Disruptive Technologies and Venture Capital Investments

Paulo De Bolle

Global Director

Andi Dervishi

Chief Investment Officer and Global Head, Fintech, ePayments and New Finance

Makhtar Diop

Managing Director

Imad N. Fakhoury

IFC Regional Director South Asia

Allen Forlemu

Regional Industry Director

Mary Porter Peschka

Director

Leila Search

Investment Professional

Oumar Seydi

IFC Regional Director, Africa

Past deals in Renewables

M-Kopa

Debt Financing in 2023
M-Kopa Kenya Limited is a leading provider of solar home systems, specializing in pay-as-you-go energy services for off-grid customers. Founded in 2011 and based in Nairobi, Kenya, M-Kopa began commercial operations in 2012 and has since expanded its reach to Uganda and Tanzania. The company offers a range of solar products, including systems that provide lighting, phone charging, and solar-powered radios, which are sold through over 1,000 retail agents and shops. M-Kopa utilizes a proprietary technology platform that integrates mobile payments and IoT connectivity, allowing customers without credit histories to access essential products and services. With a dedicated team of over 500 staff, the company is committed to delivering innovative solutions that meet the needs of underserved communities, continually improving its offerings through data-driven insights and customer relationship management.

Coelba

Post in 2022
Companhia de Eletricidade do Estado da Bahia - Coelba is a Neoenergia group that distributes electricity.

Usina Santa Adélia

Debt Financing in 2022
Usina Santa Adélia Produces agro-industrial food and energy from renewable sources, with strict quality and sustainability standards.

Daystar Power

Debt Financing in 2021
Daystar Power specialises in providing solar power and energy efficiency solutions for businesses in the commercial, industrial, and agricultural sectors that result in significant reduction of power costs, diesel consumption and pollution.

SunBox

Grant in 2021
SunBox operates as a multinational corporation that provides clean energy services.

Solfácil

Series B in 2021
Solfácil purpose is to allow all people to invest in solar. We are the first solar investment platform in Brazil. We are a fintech with a innovative loan that allows consumers to switch their monthly cost with electricity into a great investment in a solar system. Consumers benefit from zero downpayment, up to 30% immediate savings, 20+ years of free electricity and ability to produce and consume clean energy.

Yellow Door Energy

Series A in 2019
Yellow Door Energy invests in and operates distributed solar and energy efficiency assets for commercial and industrial customers in the Middle East and Africa. It finances, designs, builds, operates, and maintains the solar plants. The company was founded in 2015 and is based in Dubai, United Arab Emirates with a location in Amman, Jordan.

Azure Power

Post in 2018
Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of solar power plants in India. It generates solar energy based on long-term contracts with Indian government energy distribution companies, as well as other non-governmental energy distribution companies and commercial customers. As of March 31, 2020, the company operated 43 utility scale projects and various commercial rooftop projects with a combined rated capacity of 1,808 MW. Azure Power Global Limited was founded in 2008 and is based in New Delhi, India.

Yoma Micro Power

Venture Round in 2018
Yoma Micro Power Myanmar Company Limited builds, owns, operates, and maintains solar-based micro-power plants. The company offers mini-grids in off-grid areas generating and distributing electricity to power telecom towers in rural areas and off-grid communities. It also offers on-grid commercial and industrial solar systems. The company was founded in 2017 and is based in Yangon, Myanmar.

CleanMax

Venture Round in 2017
CleanMax is now the largest developer of onsite and off-site solar solutions for corporate customers in India, on a build-own-operate basis. We develop solar projects on a turnkey basis, covering includes construction, financing and O&M in our scope, and providing power on a per-kWh basis under long-term Power Purchase Agreements, at rates cheaper than grid tariffs.

Azure Power

Post in 2017
Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of solar power plants in India. It generates solar energy based on long-term contracts with Indian government energy distribution companies, as well as other non-governmental energy distribution companies and commercial customers. As of March 31, 2020, the company operated 43 utility scale projects and various commercial rooftop projects with a combined rated capacity of 1,808 MW. Azure Power Global Limited was founded in 2008 and is based in New Delhi, India.

ContourGlobal

Debt Financing in 2017
ContourGlobal is an international power generation company that develops, acquires, operates, and manages wholesale electric power generation assets. Established in 2005 and headquartered in London, the company operates a diverse portfolio of approximately 4,841 megawatts across 107 thermal and renewable energy power plants in 18 countries on three continents. Its Renewable Energy Segment generates electricity using hydro, solar, wind, and biogas, contributing 1,808 megawatts, while the Thermal Energy Segment relies on gas, coal, and oil to produce 2,509 megawatts. With a workforce of around 2,000 employees, ContourGlobal aims to create economic and social value through sustainable power generation, focusing on long-term contracts and a diversified approach to fuel sources and geographical presence.

Hero Future Energies

Private Equity Round in 2017
Hero Future Energies Limited specializes in the generation and distribution of renewable energy, focusing on wind, solar, and hydro power projects. Founded in 2012 and based in New Delhi, India, the company develops both rooftop and off-grid solutions to provide decentralized power to various consumers, including industries, businesses, educational institutions, non-profits, and governmental organizations. Hero Future Energies assists clients in meeting their Renewable Purchase Obligations (RPOs) by decreasing reliance on fossil fuels. The company also offers a range of services, including demand assessments, system design, engineering, and installation, as well as ongoing operation and maintenance support to ensure optimal performance. As a subsidiary of Hero MotoCorp Limited, it aims to integrate renewable energy into India's energy landscape, contributing to a sustainable future.

Mobisol

Series B in 2016
Mobisol GmbH, founded in 2010 and based in Berlin, Germany, specializes in developing and installing solar home systems to provide electricity to underserved low-income customers in developing nations. The company offers solutions that power LED lights, radios, mobile phones, and various household appliances, while also promoting productive use appliances. Mobisol's innovative approach combines solar energy with an affordable mobile payment plan, making it accessible for those living without electricity. The company emphasizes comprehensive customer service and utilizes remote monitoring technology to ensure reliable performance. With additional offices in Tanzania, Rwanda, and Kenya, Mobisol operates as a subsidiary of ENGIE SA, focusing on delivering clean and affordable energy alternatives to fossil fuels.

Lekela Power

Private Equity Round in 2016
Lekela Power B.V. is a renewable energy generation platform focused on delivering utility-scale wind and solar projects across Africa. Founded in 2015 and headquartered in Amsterdam, the company operates in countries such as Egypt, Ghana, South Africa, and Senegal. Lekela Power develops, constructs, and manages a portfolio of renewable energy projects that supply clean energy to a range of consumers, including government entities, utilities, and large-scale industrial users. By providing secure and reliable renewable energy, Lekela Power aims to support the continent's growth and development while contributing to the transition toward sustainable energy sources. The company operates as a subsidiary of Mainstream Renewable Power Limited.

ZOLA Electric

Debt Financing in 2015
Zola Electric provides off-grid solar solutions primarily for African markets, focusing on Tanzania, Rwanda, Ghana, and the Ivory Coast. The company offers solar home kits that can be either leased or purchased, utilizing a pay-as-you-go micro-finance model that accommodates various income levels. By employing advanced solar, battery, and power electronics technology, Zola Electric delivers renewable energy systems tailored to the needs of individual households and businesses in rural communities. Since its inception in 2012, the company has powered over 180,000 homes and businesses. Formerly known as Off-Grid Electric Tanzania Limited, it rebranded to Zola Electric in July 2018 and has established its headquarters in Arusha, Tanzania, with an additional office in San Francisco, California. The company has garnered recognition through various awards and has attracted investment from notable firms, including Tesla and EDF.

BMR Energy

Debt Financing in 2015
BMR Energy plans, builds, and operates bioenergy plants, wind turbines, and solar power plants. It is based in Nordrhein-Westfalen, Germany.

NantEnergy

Venture Round in 2013
NantEnergy, Inc. specializes in the manufacture of advanced energy storage solutions. The company's offerings include air breathing zinc rechargeable cells and systems, SmartStorage micro-grid solar systems, and stationary energy storage systems. These products cater to various applications such as off-grid electrification, solar-powered microgrids, telecommunications, and support for wireless telecom providers. Founded in 2006 and originally known as Fluidic Energy, NantEnergy emerged from Arizona State University, focusing on the development of high-performance, cost-effective, and sustainable energy storage solutions. The company's innovative rechargeable metal-air battery technology harnesses atmospheric oxygen for energy storage, providing a safe and economical alternative for back-up power, diesel generator replacement, electric grid optimization, and renewable energy integration. NantEnergy is headquartered in Scottsdale, Arizona, with additional facilities in Sonoma County, California.

NSL Renewable Power

Series A in 2013
NSL Renewable Power Private Limited is a prominent player in the renewable energy sector in India, focusing on the development, operation, and management of a diverse range of energy projects. Incorporated in 1985 and based in Hyderabad, the company operates as a subsidiary of NSL Group of Companies Pvt Ltd. Its portfolio includes wind, solar, biomass, hydel, and thermal power projects. With a skilled workforce, NSL Renewable Power has positioned itself as an independent power producer, leveraging its expertise across various energy verticals to implement and operate projects effectively. The company aims to generate returns while contributing positively to society through its renewable energy initiatives.

NSL Renewable Power

Venture Round in 2013
NSL Renewable Power Private Limited is a prominent player in the renewable energy sector in India, focusing on the development, operation, and management of a diverse range of energy projects. Incorporated in 1985 and based in Hyderabad, the company operates as a subsidiary of NSL Group of Companies Pvt Ltd. Its portfolio includes wind, solar, biomass, hydel, and thermal power projects. With a skilled workforce, NSL Renewable Power has positioned itself as an independent power producer, leveraging its expertise across various energy verticals to implement and operate projects effectively. The company aims to generate returns while contributing positively to society through its renewable energy initiatives.

NSL Renewable Power

Venture Round in 2011
NSL Renewable Power Private Limited is a prominent player in the renewable energy sector in India, focusing on the development, operation, and management of a diverse range of energy projects. Incorporated in 1985 and based in Hyderabad, the company operates as a subsidiary of NSL Group of Companies Pvt Ltd. Its portfolio includes wind, solar, biomass, hydel, and thermal power projects. With a skilled workforce, NSL Renewable Power has positioned itself as an independent power producer, leveraging its expertise across various energy verticals to implement and operate projects effectively. The company aims to generate returns while contributing positively to society through its renewable energy initiatives.

Bhilwara Energy

Private Equity Round in 2010
Bhilwara Energy Limited is a power generation company based in Noida, India, that engages in the generation, transmission, distribution, and trading of electricity both domestically and internationally. Established in 2006, the company focuses on producing power from non-hydro sources, particularly wind and thermal energy. Bhilwara Energy aims to diversify its power business by developing and acquiring new greenfield projects while also consolidating its presence in hydropower generation. Through its subsidiaries, the company strives to provide efficient energy solutions to its clients, enhancing its footprint in the power sector.

Nitol Solar

Venture Round in 2008
Nitol Solar is an international, vertically integrated company whose main business activities are scientific development and manufacture of products used to generate solar energy. Nitol’s current and envisaged product groups include the value chain from raw materials (chlorine and hydrogen) to trichlorosilane and solar grade polycrystalline silicon.
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